FINAL-CIMIC-2016-ANNUAL-REPORT - 2016 Annual Report CIMIC...

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2016 Annual Report CIMIC Group Limited ABN 57 004 482 982
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2016 achievements With a strong operational and management team in place, we achieved a great deal in 2016: reporting net profit after tax at the top end of our guidance, increasing shareholder returns, and delivering exemplary building, infrastructure and resources projects for our clients. In 2016, our projects were delivered through dedicated businesses focused on our core areas: • Construction (CPB Contractors incorporating Leighton Asia); • Mining and mineral processing (Thiess and Sedgman); Executive Chairman’s review I’m pleased to report that we achieved our objectives in 2016, delivering strong, sustainable returns for our shareholders. Marcelino Fernández Verdes Executive Chairman
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• Public Private Partnerships or PPPs (Pacific Partnerships); and • Engineering (EIC Activities). We are currently incorporating diversified services company UGL into our stable, following a successful takeover offer in late 2016. UGL’s areas of expertise will continue to be the delivery of critical assets and essential services to our clients. By focusing the skills, experience and expertise of our Operating Companies into activity driven businesses that work together we have gained a competitive edge. Our team Around the world, we have a first- rate team of 50,500 people who are focused on delivering our 434 active projects, to the benefit of our shareholders and clients. I am immensely proud of all that our people have achieved in recent years, including the many changes involved in our transformation to an activity- focused operating model. With these achievements in place, and a strong leadership team established, I was pleased to hand over my responsibilities as Chief Executive Officer and Managing Director to Adolfo Valderas in October 2016. Adolfo has played an integral part in CIMIC Group’s achievements during the past three years, first as Chief Operating Officer and then as Deputy Chief Executive Officer. The Board and I have every confidence in Adolfo’s ability to lead CIMIC Group. I am honoured to continue as Executive Chairman and I look forward to continuing to guide CIMIC Group in this capacity. building on a solid foundation to deliver strong and sustainable shareholder returns
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Looking forward Public and private clients in CIMIC’s markets are continuing to invest, providing exciting opportunities for CIMIC to contribute our civil, mining, mechanical and electrical capabilities, and our PPP, project and operational experience. Our financial strength is also an advantage as we pursue new opportunities and look to expand. In closing, I would like to thank all of our shareholders for your continued support. I look forward to updating you further on our Company’s performance at the Annual General Meeting on 13 April 2017.
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